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Limitations of Product Life Cycle Model

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Questions and Answers

What is a significant limitation of the product life cycle model in relation to fashion products?

It fails to account for the global market.

It assumes all products follow a uniform sales pattern.

It overestimates the duration of product life.

It does not consider the impact of changing fashions. (correct)

How does competition affect the applicability of the product life cycle model to Birkenstock shoes?

Competitors can prolong the growth stage of a product.

Competitors have no impact on Birkenstock's product decisions.

The model predicts competitor behavior accurately.

Competitors' actions can expedite the decline stage of a product. (correct)

Why might the product life cycle model be considered simplistic for Birkenstock's decision-making?

It requires yearly updates to stay relevant.

It lacks comprehensive analysis of competitor dynamics. (correct)

It accounts for all external factors effectively.

It primarily focuses on financial metrics.

What should Birkenstock consider alongside the product life cycle when making product range decisions?

<p>Competitor strategies, economic factors, and changing trends.</p> Signup and view all the answers

Which aspect is NOT a limitation identified in the product life cycle model for Birkenstock?

<p>It accurately predicts market saturation rates.</p> Signup and view all the answers

Study Notes

Limitations of Product Life Cycle Model

The product life cycle model is a simplification and not all products follow its classic shape.
It is difficult to predict the life cycle of products like Birkenstock shoes due to ever-changing fashion trends.
The model fails to consider the impact of competitors' actions. A superior product from a competitor can quickly push a product into decline.
While a useful visual tool for analyzing product portfolios, Birkenstock should consider additional research on competitors, economic conditions, and evolving trends before making final decisions on product ranges.

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Description

Explore the limitations of the Product Life Cycle model in this quiz. While it serves as a useful visual tool for analyzing products, it oversimplifies the complexities of current market dynamics and competitive actions. Assess how fashion trends and competitor strategies can impact a product's longevity.